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Secured Business Loan Eligibility

Resident Indian individuals (salaried/ self-employed) can apply with IIFL Home Loan for Secure SME Loan. Applicants can have close relatives, partnership firms, or even a Private Limited Company as co-applicant to increase maximum loan amount and avail best rate of interest. For cases where income is considered, minimum age at loan inception should be 21 years and 65 years at loan maturity. In cases where income is not considered, minimum age at loan inception should be 18 years.

Given below are the eligibility parameters under each variant

Any Resident Indian Individual (salaried/ self-employed) can apply. The co-applicants can be close relatives, partnership firms, or even a Private Limited Company.

In case where income is considered, minimum age at loan inception is 21 years and loan maturity is 65 years. If income is not considered, minimum age at loan inception is 18 years.

Product Type

Regular Secured Business Loan

Minimum Loan Amount (non metro) (INR)

25 lakhs

Minimum Loan Amount (metro) (INR) 35 lakhs
Maximum Loan Amount (non metro) (INR) 10 crore
Maximum Loan Amount (metro) (INR) 10 crore
Maximum Tenure (Years) 10